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Virginia

Affordable HousingDevelopmentNewsVirginia

APAH Opens 150-Unit Oakwood Meadow Affordable Community in Alexandria, Virginia

by Jeff Shaw

ALEXANDRIA, Va. — The Arlington Partnership for Affordable Housing (APAH), along with development partners and Fairfax County officials, has cut the ribbon on Oakwood Meadow Senior Residences. The affordable housing development for independent seniors is located in Alexandria and offers 150 one- and two-bedroom apartments for qualifying adults age 62 and older who earn between 30 and 60 percent of the area median income (AMI). Located on a site that was formerly a stormwater retention pond, this project demonstrates a public-private partnership between APAH and Fairfax County Redevelopment and Housing …

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AcquisitionsAssisted LivingNewsVirginia

Foundry Commercial Acquires 90-Unit White Springs Senior Living Community in Metro D.C.

by Jeff Shaw

WARRENTON, Va. — Foundry Commercial has acquired White Springs Senior Living, a 90-unit seniors housing community located in Warrenton, approximately 48 miles outside of Washington, D.C.  White Springs, which opened in 2020, offers assisted living and memory care services.  Ryan Weekes and Zach Strunk of Foundry arranged the transaction, with support from Spring Arbor Associates. Capital Funding Group (CFG) provided funding for the acquisition. The seller, sales price and loan amount were not disclosed.

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Affordable HousingFinanceMississippiNewsNorth CarolinaTexasVirginia

BWE Arranges Over $65M in Financing to Renovate, Preserve Affordable Communities Across the South

by Jeff Shaw

ASHEVILLE, N.C.; STARKVILLE, Miss.; CHESAPEAKE, Va.; and HOUSTON and BUDA, Texas — BWE has closed five loan deals totaling over $65 million to refinance and renovate affordable housing properties in North Carolina, Virginia, Mississippi and Texas. Jon Killough and John Roberts originated the loans on behalf of multiple borrowers. The loans include:

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AcquisitionsCCRCNewsVirginia

ESI Arranges Sale of Beth Sholom Village in Virginia Beach

by Jeff Shaw

VIRGINIA BEACH, Va. — Evans Senior Investments (ESI) has arranged the sale of Beth Sholom Village, a seniors housing community in Virginia Beach. The seller is a mission-based nonprofit group. A Mayland-based owner-operator was selected as the buyer. The price was not disclosed. Beth Sholom Village opened in 1980 with 120 licensed skilled nursing beds. The seniors housing component was added in 2004 and includes 56 assisted living and 18 memory care units. Virginia has an existing certificate of public need to develop new skilled nursing and assisted living communities, …

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Assisted LivingDevelopmentNewsVirginia

Commonwealth Plans $2.4M Expansion at Community in Onancock, Virginia

by Jeff Shaw

ONANCOCK, Va. — Commonwealth Senior Living has started construction on an expansion of Commonwealth Senior Living at the Eastern Shore in Onancock, a small town near Chesapeake Bay on the Delmarva Peninsula. The $2.4 million project will add eight memory care apartments, convert spaces into eight assisted living apartments, and adding spaces for a new living room and lounge area. Construction is scheduled for completion in April 2024. Commonwealth Senior Living at the Eastern Shore currently features independent living, assisted living and memory care. Once construction is complete, the community …

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FinanceMarylandNewsNorth CarolinaSkilled NursingVirginia

CFG Arranges $207M Refinancing for 10-Property Skilled Nursing Portfolio

by Jeff Shaw

BALTIMORE — Baltimore-based Capital Funding Group (CFG) has arranged $207 million in financing to support the refinancing of 10 skilled nursing facilities. The facilities, which span Maryland, Virginia and North Carolina, total over 1,200 beds. The borrowers are affiliates of The Portopiccolo Group. The transaction represents the largest deal closed by CFG this year to date. The financing also allowed for an equity recapture at closing, a transition to third-party tenants for eight of the 10 facilities as part of the closing and an earn-out structure to provide access to …

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Assisted LivingDevelopmentNewsVirginia

Sunrise Senior Living Opens Sunrise of McLean Village in Metro D.C.

by Jeff Shaw

MCLEAN, Va. — Sunrise Senior Living has opened Sunrise of McLean Village, a seniors housing community located at 1515 Chain Bridge Road in McLean, roughly 15 miles outside Washington, D.C. Comprising 90,000 square feet, the three-story property has the capacity for more than 120 residents and offers assisted living and memory care accommodations. Amenities at the community include a dining room and bistro with a bar, fitness center, library, two sunrooms, an activity room, hair and nail salon and a massage room. The property also features five covered porches, a …

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Assisted LivingDevelopmentInvestmentNewsVirginia

JLL Arranges Joint Venture Equity for 142-Unit Development in Fredericksburg, Virginia

by Jeff Shaw

FREDERICKSBURG, Va. — JLL Capital Markets has arranged joint venture equity for development of a seniors housing community in Fredericksburg, approximately midway between Richmond and Washington, D.C. Centric Development LLC is developing the property, which will feature 106 assisted living and 36 memory care units. The three-story, 153,000-square-foot property is situated on a 16.2-acre parcel. The site is within an established, regional medical hub in a growing area. Completion is scheduled for 2025. Joel Mendes, Anthony T. Fertitta Jr. and Billy Lichtenstein led the JLL Capital Markets Advisory team.

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DevelopmentNewsSkilled NursingVirginia

Marquis Completes Renovations at Westmoreland Healthcare Center in Colonial Beach, Virginia

by Jeff Shaw

COLONIAL BEACH, Va. — Marquis Health Consulting Services has completed renovations at Westmoreland Rehabilitation & Healthcare Center, a skilled nursing facility in Colonial Beach, approximately midway between Richmond and Washington, D.C. The project included updates to the lobby, nurses’ stations and resident rooms, among other areas. The facility carries a five-star designation from the Centers for Medicare & Medicaid Services (CMS) for quality measures. Westmoreland maintains an outpatient rehabilitation program featuring occupational and physical therapy suitable for those high school aged and above.

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AcquisitionsMemory CareNewsVirginia

Hamister Group Buys 48-Unit Chantilly Heights Memory Care Community in Chantilly, Virginia

by Jeff Shaw

CHANTILLY, Va. — Hamister Real Estate Equity Fund III LP, a private estate fund sponsored by Hamister Group, has acquired Chantilly Heights Memory Care in Chantilly, approximately 25 miles west of Washington, D.C. It is the second Virginia assisted living and memory care facility to come under the Hamister Group umbrella. The group has operated Chantilly’s sister facility, Lansdowne Heights Memory Care in Leesburg, since 2020. Formerly named Arbor Terrace Fairfax, Chantilly Heights Memory Care offers two separate neighborhoods within the 35,550-square foot facility. Opened in 2017, the complex consists …

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